Shiba Inu lead developer shares his take on the spot Ethereum ETF approval, shares his plans for SHIB
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However, without spending much time of discussing this hypothetical event, without further ado, he stated that this is something for the community to discuss but he will stay focused on what the SHIB team has coming. He concluded his message with a slightly intriguing hashtag #staytuned.for the spot Ethereum ETF filings submitted by several Wall Street companies earlier this year. The ETFs were approved six months after the regulator greenlit spot Bitcoin ETFs in the middle of January.
Ethereum is the second largest cryptocurrency in terms of market capitalization and this approval marks a crucial pivot for the crypto industry after the BTC spot ETFs. Venture investor Anthony Pompliano has recently tweeted that this step would be the last dam to be broken before the Wall Street totally accepts crypto assets.Among the approved Ethereum ETFs were those submitted by BlackRock, Grayscale , VanEck, Bitwise, Fidelity, and Ark Invest.
These spot Ethereum ETFs are expected to be much smaller in terms of assets under management. For example, Grayscale’s ETF holds approximately $11 billion in ETH which is much smaller than its Bitcoin Trust held before it was converted into the spot ETF. Earlier this month, Ark, Grayscale and Fidelity were driven to adjust their ETF filings to remove staking from them since the SEC recently sued two US-based exchanges for their crypto staking services, referring to staked assets an unregistered securities.Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects.
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